In the aftermath of the BlackRock iShares XRP Trust revelation, the situation remains unresolved on the ICIS Delaware website, with conflicting claims about its legitimacy.
The appearance of BlackRock’s supposed XRP exchange-traded fund on the Delaware Corporation Commission website over 24 hours ago, triggered a swift increase in XRP’s value.
However, skepticism arose within the crypto community, challenging the authenticity of the filing despite its presence on the state government portal.
Prominent figures, including attorney Jeremy Hogan, argue that the XRP ETF application’s visibility on the government portal doesn’t guarantee its authenticity.
Hogan states, “You can spoof the formation of an “XRP ETF” Trust. It’s fraud, but it’s actually very easy and just costs $500. You only need to file two documents (attached), pay the money, and you get a “placeholder” on the state website. That’s all I can tell you other than “good night!”
Hogan points out that creating a falsified XRP ETF application is relatively simple and inexpensive, requiring only a few documents and a $500 fee.
You can spoof the formation of an "XRP ETF" Trust.
It's fraud, but it's actually very easy and just costs $500.
You only need to file two documents (attached), pay the money, and you get a "placeholder" on the state website.
That's all I can tell you-other than "good night!" pic.twitter.com/0ZuHigrxWU
— Jeremy Hogan (@attorneyjeremy1) November 14, 2023
Notable dissent came from Senior ETF Analyst Eric Balchunas, who declared the XRP ETF application as false based on information from BlackRock insiders. Despite these counterclaims, the purported fake XRP ETF filing persists on the government portal, adding to the confusion surrounding its legitimacy.
Contrary to previous situations where CEO Larry Fink promptly issued denial statements, BlackRock has remained silent on the disputed XRP ETF. Calls for clarification from the crypto community have gone unanswered, leaving the controversy unresolved. It’s important to note that statements refuting the XRP ETF’s authenticity are currently third-party claims.
Adding to the complexity, an X user who strongly argues in favor of the application’s legitimacy, notes that it is listed as “in good standing” and shares the same origin as the confirmed BlackRock ETH ETF submitted on November 9. This further fuels the debate over whether both filings are genuine or fabricated.
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Remarkably, this isn’t the first occurrence of a mysterious ETF submission. In 2021, individuals impersonated Grayscale to file a fake ETF via the same Delaware Corporation website, though the ruse was swiftly exposed.
The absence of an official statement from BlackRock has left the situation in limbo, drawing parallels to a previous incident where a quick denial was issued.
As the controversy unfolds, the crypto community remains divided over the authenticity of the contentious XRP ETF filing. In other XRP news, Ripple CEO Brad Garlinghouse recently unveiled the next action for the company in the XRP lawsuit.